豆一供需僵持，花生震荡盘整

1. Report Industry Investment Rating - The investment strategy for both soybeans and peanuts is neutral [3][5] 2. Core Viewpoints of the Report - The soybeans market is in a stalemate, with futures showing wide - range fluctuations but a stable overall center. If the consumer side remains weak before the Spring Festival, the price will have limited upward momentum and stay in a high - level range. The peanut market has abundant upstream inventory and cautious downstream procurement. The short - term price is expected to fluctuate and consolidate, and future focus should be on the oil mills' acquisition rhythm and shutdown arrangements [2][4] 3. Summary by Related Catalogs Soybean View Market Analysis - Futures: The closing price of the Douyi 2605 contract was 4375.00 yuan/ton, up 11.00 yuan/ton or 0.25% from the previous day. Spot: The edible soybean spot basis was A05 + 65, down 11 or 32.14% from the previous day. Northeast soybean spot prices remained stable overall, but the shipping rhythm slowed down, and terminal demand needed to be boosted. Specific spot prices in different regions of Heilongjiang were provided [1] - The main soybean futures contract price fluctuated narrowly. The domestic soybean spot market was in a stalemate with narrow price fluctuations. The market focused on future demand release. Downstream procurement was weak, and terminal consumption recovered slowly, making it difficult to support concentrated stocking demand [2] Strategy - The strategy is neutral [3] Peanut View Market Analysis - Futures: The closing price of the peanut 2603 contract was 8082.00 yuan/ton, up 20.00 yuan/ton or 0.25% from the previous day. Spot: The average peanut spot price was 8036.00 yuan/ton, up 9.00 yuan/ton or 0.11% month - on - month. The spot basis was PK03 - 1082.00, up 20.00 or 1.88% month - on - month. Detailed spot prices of different peanut varieties in various regions and oil mill procurement prices were provided [3] - The main peanut futures contract price fluctuated narrowly. The peanut market had abundant upstream inventory and cautious downstream procurement. Some grass - roots and traders were reluctant to sell, most oil mills' purchase prices were stable, and food companies' pre - festival stocking was almost over. With the pre - Spring Festival logistics shutdown, market demand might further shrink, and the short - term price was expected to fluctuate and consolidate [4] Strategy - The strategy is neutral [5] Risk - The risk is weakening demand [5]